Plastic Energy is collaborating with ExxonMobil Corp. on an advanced recycling project in France that will convert post-consumer plastic waste into raw materials for the manufacturing of virgin-quality polymers.
Based on current plans, the project is expected to be one of the largest advanced recycling plants in Europe, with an initial capacity of 25,000 tons of plastic waste per year, and plans to scale up to 33,000 tons in the near future.
“This project with ExxonMobil is another important step toward a more circular economy for plastics,” said Carlos Monreal, founder and CEO of Plastic Energy. “Plastic Energy’s aim is to continue to build recycling infrastructure in France, and globally, to increase recyclability of plastics.”
Plastic Energy is a global leader in advanced recycling, specializing in recycling end-of-life plastics that would otherwise be destined for landfill, incineration or end up in the environment. The company’s patented, innovative technology transforms plastic waste into raw materials that can be used to create virgin-quality polymers.
“Our plans with Plastic Energy demonstrate how industry, government and consumers can work together to build a more circular system to capture value from post-use plastic,” said Karen McKee, president of ExxonMobil Chemical Company. “We’re well-positioned to add value through our expertise in plastic manufacturing and high-performance products to help advance projects like this, which deliver sustainable solutions at scale.”
Plastic Energy and ExxonMobil have been developing plans since 2018. A final investment decision is expected in mid-2021 with startup anticipated in 2023.
Under terms of the agreements with affiliates of ExxonMobil, Plastic Energy will build, own and operate an advanced recycling plant adjacent to ExxonMobil’s Notre Dame de Gravenchon petrochemical complex in France. The plant will convert difficult-to-recycle mixed plastic waste into raw materials that can be transformed into certified circular polymers and other high-value products at ExxonMobil’s petrochemical complex.
The construction of this new advanced recycling plant will support the circular economy in Europe and will add to Plastic Energy’s growing portfolio of recycling units.
This project has received financial support from the French government as part of their Plan de Relance and Regional Planning Grant Scheme.